Fleet Privatizations Expected Soon For Lithuanian Companies

Wednesday, September 04, 2002
Following are financial details of a planned fleet privatization in Lithuania. JSC Klaipeda Transport Fleet (KTF) is one of the largest Lithuanian shipping companies, whose principal activities are transportation of refrigerated cargo by sea and lease of sea transport vessels. The authorized capital of the company as of December 31, 2001 amounted to about $38.3 million. KTF owns and operates 16 small- and medium-sized cargo reefers. The main cargo handled by the company includes frozen fish, meat, chicken, butter, fruits and vegetables. The capacity of KTF's vessels is from 85,000 to 470,000 cu. ft., the average capacity - 189,000 cu. ft. The total capacity of the fleet is 85,664 cu. m. According to this class of vessels, the company's fleet is the fourth largest fleet in the world. The main foreign competitors include Seatrade (U.S.), East Wind (U.S.), GRL (Global Reefer Transport, Great Britain) and other smaller companies. The company is a shareholder in the Germany-based vessel chartering company Alpha Reefer Transport with 20 percent share in this company. JSC Lithuanian Shipping Company (LSC) was established on June 27, 2001, following the reorganization of JSC Lithuanian Shipping Company (LISCO) by splitting it into two business entities: LISCO and LSC. The authorized capital of the company as of December 31, 2001, amounted to $57.1 million. At the end of 2001, after the reorganization, LSC owned 19 vessels (169.4 thousand DWT). In 2002, the company bought two more vessels (19,300 DWT). The main foreign LSC's competitors are Baltic and Scandinavian shipping companies.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1273 sec (8 req/sec)